Types of Futures Orders
CoinEx supports 4 order types for Futures Trading: Limit, Market, Stop, and Scaled orders.
For more details, please refer to Introduction to Futures Order Types.
Types of Futures Orders Execution
CoinEx offers 4 order execution types: Always Valid (AL), Immediate or Cancel (IOC), Fill or Kill (FOK), and Maker Only (MK).
For more details, please refer to Introduction to Futures Order Types.
Futures Trading Mechanism
CoinEx Futures uses a Maker/Taker trading mechanism.
For more details, please refer to What are Maker & Taker.
How to Place Different Types of Futures Orders
1. Limit order
(1) Maker
Example: Buy long in the BTCUSDT market (Latest Price: 64830 USDT, Best Ask Price: 64830 USDT per 1 BTC)
a. Select [Limit];
b. Set the Price at 64832 USDT and the Amount at 0.01;
c. Check and confirm the required margin;
d. Click [Buy/Long] to place the order.
Once placed, the order will be sent to the market as a Maker order at the Best Bid Price. When the market price reaches 64832 USDT, the order will be filled. The same applies to selling short with limit orders.
(2) Taker
Example: Buy long in the BTCUSDT market (Latest Price: 64830 USDT, Best Ask Price: 64832 USDT)
a. Select [Limit];
b. Set the Price at 64832 USDT and the Amount at 0.01 BTC;
c. Check and confirm the required margin;
d. Click [Buy/Long] to placed the order.
Once placed, the order will be sent to the market as a Taker order at the Best Bid Price. When the market price reaches 64832 USDT, the order will be filled. The same applies to selling short with limit orders.
2. Market order
(1) Buy/Long
a. Check the market depth for ask orders;
b. Select [Market];
c. Set the Amount at 0.01 BTC;
d. Click [Buy/Long] to place the order.
Once placed, the order will be sent to the market and executed at the best available price until it is fully executed.
Note: When buying a large amount, please pay attention to the ask orders to avoid significant price slippage caused by insufficient market depth.
(2) Sell/Short
a. Check the market depth for bid orders;
b. Select [Market];
c. Set the Amount at 0.01 BTC;
d. Click [Sell/Short] to place the order.
Once placed, the order will be sent to the market and executed at the best available price until it is fully executed.
Note: When selling a large amount, please pay attention to the bid orders to avoid significant price slippage caused by insufficient market depth.
3. Stop order
(1) Buy Long and Take Profit
Suppose the BTC price will rise in the future, you can buy BTC contracts to make a profit. If you think that the BTC price will stop rising when it reaches 70000 USDT, you can place a stop order to sell BTC and take profits (see example below).
a. Select [Stop Order];
b. Select [Latest Price] as the stop price type;
c. Set the Stop price at 70000 USDT;
d. Set the Limit price at Limit order, 70100 USDT;
e. Set the Amount at 0.01 BTC;
f. Click [Sell/Short] to place the order.
The order will not be sent to the market immediately after submission. When the latest price reaches 70000 USDT, it will be triggered, and the system will place a limit order at the preset price and amount.
(2) Buy Long and Stop Loss
Suppose the BTC price will rise in the future, you can buy BTC contracts to make a profit. If you think that BTC price will probably drop (stop price of the order should be higher than Liq. Price) when it reaches 70000 USDT, you can place a stop order to sell BTC and stop loss (see below example).
a. Select [Stop];
b. Select [Latest Price] as the stop price type;
c. Set the Stop price at 70000 USDT;
d. Set the Best Market price;
e. Set the Amount at 0.01 BTC;
f. Click [Sell/Short] to place the order.
The order will not be sent to the market immediately after submission. When the latest price reaches 70000 USDT, it will be triggered, and the system will post an order at the preset price and amount. Since the order is set as a market order, it will be filled immediately at 70000 USDT, thereby triggering the stop-loss.
4. Scaled order
If you anticipate that the price of BTC will rise, you may use scaled orders to buy BTC in batches in the BTCUSDT futures market and profit from a long position. An example is shown below:
a. Select [Scaled Order];
b. Set the [Min. Price] and [Max. Price];
c. Set the [Number of Orders];
d. Set the [Quantity];
e. Select the [Allocation Mode];
f. Preview the prices and quantities of the split sub‑orders;
g. Click [Buy/Open Long].
Once the order is successfully placed, all split sub‑orders will be immediately submitted to the order book and remain pending until filled.